Mahindra & Mahindra Financial Services Ltd

📈 Mahindra Finance Receives Triple 'AAA' Ratings Reaffirmation

- On April 22, 2026, Mahindra & Mahindra Financial Services Ltd. received reaffirmed credit ratings from India Ratings & Research, CARE Ratings, and CRISIL Ratings.

- India Ratings assigned 'IND AAA/Stable' for Non-convertible Debentures (INR 490 billion), Private Sub Debt (INR 104.5 billion), and Fixed Deposits (INR 200 billion), with Commercial Paper rated 'IND A1+'.

- CARE Ratings reaffirmed 'CARE AAA; Stable' for Secured NCDs (INR 12,343.5 crore) and Subordinate Debt (INR 933 crore).

- CRISIL Ratings reaffirmed 'Crisil AAA/Stable' for Bank Loans (INR 20,000 crore, enhanced from INR 13,317 crore), Fixed Deposits (INR 20,000 crore, enhanced from INR 18,000 crore), and Commercial Paper (INR 20,000 crore, enhanced from INR 17,000 crore).

- CRISIL withdrew the rating for Non-Convertible Debentures worth INR 4,020 crore due to debenture redemption.

- All ratings indicate a stable outlook, underscoring the company's robust creditworthiness.